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Oh and BTW its Atalaya...predictive text...Bah!
Did have a lovely holiday in Antalya once though...
Bozi, as you know, I share some of your reservation around what's going on here, but I would point out one significant factor - in my mind - which differentiates us from SXX, and that's our shareholder base.
GGP and DGR are an irrelevance, as they haven't got the money to support the company, but BR and Norges most certainly have, as have Valuestone. I simply cannot see why they'd allow BHP to paint us in a corner. At least, that's what I'm betting on.
Touch a nerve little ray.....I am only stating the facts....calling names is very childish grow up to justify your name.....
Watch out for my "monopoly trade" coming should we increase later, I'll give you 10 to 15 mins notice just for your benefit.
Now do one.
Don't bother,on my account anyway, little man....
Just stay happy....:)
I also share the very same concerns a la Sirius…..and I can also see similarities in the dangers of continued poor management of a superb asset…
one thing in our favour has to be Mathers holding…. Surely he will not allow his holding to collapse in value like Sirius….
I expect him to sell up privately before any bid is made from any suitor… and depending on who he would sell to, would dictate weather I continue to hold or follow him out of the Solg story.. but I can’t see a price any higher than 50-60p
Thought so haha
BTW I'm tiny...
Orthern, see my comment at 11:25. Mather will be an irrelevance if it comes to raising cash...he doesn't have enough. Our defence comes from BR, Norges and Valuestone. If the solids looked as if they were about to hit the fan, Franco wouldn't be too happy either. We are fortunate to have some stakeholders on-board with deep pockets - SXX did not.
Add, I didn’t mean Mather would in anyway help in raising the funds… I only meant surely he would not sit around and watch his holding collapse in value… I believe he would sell it to any interested major for a decent walk away/get out price before a Sirius style ending…. My best guess is Mather will sell up before any bid will occur, and it won’t be for the kind of price many on here are hoping for.
And on the plus side, we are now only around 8 weeks from Q4….. whatever is going to happen after PFS update, Porv and pre AGM is going to happen pretty soon…
"Mather will sell up before any bid will occur..."
Totally disagree...he hasn't come this far to miss out on the big payday...same as us...
There will be an auction...soon...
Addicknt - your comment at 11.25 is probably fair but what do you suppose a Blackrock, Norges or Valuestone would do?
At the end of the day they're all financial institutions or functions of some sort or other.
BHP knows it can call on NCM and CGP to help vote down any resolutions to disapply pre-emption rights which blocks SolGold from issuing equity.
Would it create a ridiculous demand for stock on the open market? Possibly, but they'd all be bidding each other up plus all the little PIs too.
Maybe one of them should just test the waters and buy another 2 or 3%...
Bozi, I was thinking about some of the speculation on here suggesting BHP could let this go under and pick it up from Administrators for next to nothing, a la SXX.
The institutions have bought into a story and that story hasn't changed.
My big fear is BHP would be willing to stand back, watch us crash ourselves on the lunacy rocks of going into production and come to the "rescue" when we get in way over our heads. Bit of an ordeal to go through 5 more years of a stagnant or falling SP only to get snapped up in 2027 for 30p a share.
There is no way interested majors would allow BHP to take this into administration...
Administration would be a stretch IMO but I could certainly see the share price being further suppressed if the management is continually thwarted in it's attempts to secure new capital.
It goes back to the options we discussed last week whereby we'd possibly see a poor deal executed out of panic and necessity to keep the show on the road.
There's another London listed story that could be worth drawing a parallel too (PUR). They're in production and struggling to get to cash flow positive status for a myriad of reasons. Look at how their major holders Anglo Ashanti have reacted.
It's nice to think we have shareholder base to rely on but whether it happens is another matter entirely.
Sharp fall in the dollar...copper $3.65...gold $1803...
Oh and thanks again guys for a well mannered, constructive days debate...
UT 465,664 at 23.25...solid...
Red,see you 7am tommorrow
I know there's not a lot going on, but that was one of the most polite days in years.
People were able to offer different perspectives to each other without insults...
Mind you I do have some of them filtered.
See you all tomorrow and hoping for a breakout above 24p on the back of a stronger copper price...